ADITYA BIRLA HOUSING FINANCE LIMITED

MOST IMPORTANT TERMS AND CONDITIONS (MITC)

Major terms and conditions of the loan agreed to between ____________________________________________

___________________________(All App/Co-App name) and Aditya Birla Housing Finance Limited are as under:

Sr Particulars Details
1. Loan
a. Type of loan facility
b. Loan amount sanctioned
c. Purpose of the loan
d. Interest Type
e. Interest chargeable amount
f. Installment Type
g. Rate of Interest
h. Tenure
2. Fees and Other charges (applicable GST @ 18% will be levied on these charges)
Part Payment /Pre-Closure Charges:
▪ Floating rate loans given to individuals for other than
(applicable for non-individuals/ Loan
business purposes, where the applicant is an individual
sanction for business purpose/ individuals
with or without co-applicants: Nil
with other than floating rate)
▪ Fixed Rate loan given to Individuals (Pre-closed by own
- Part Payment / Pre-closure is allowed
sources) - Nil
a. after 12 months from final loan
▪ Home Loans (other than floating rate Loans to individuals
disbursement date
as specified above): 2% of principal outstanding paid
- In case of Part Payment / Pre-closure
▪ Other Non-Housing loans - LAP/LRD/CP/GPL (other than
before 12 months from final loan
floating rate loans to individuals as specified above): 4%
disbursement date, lock-in period interest
of principal outstanding paid
will be applicable
Other Charges:
Default Penal Interest Rate / Non
b. 24% p.a. i.e 2% per month on overdue amount
Conformance with any covenants /
stipulated conditions
Cheque Return Charges/NACH failure
c. Rs 750/- per instance
charges
As applicable based on actual delayed status or as
d. Accrued Interest
communicated by the lender from time to time
i. When facility amount is equal to Rs. 5 lacs or lesser –
CERSAI charges
Rs.50 per property
e. (You may visit the website of CERSAI for all
ii. When facility amount is greater than Rs. 5 lacs – Rs.100
such charges at www.cersai.org.in)
per property
Pre-closure quote:
a. Pre-closure statement charges / a. Rs 1,000/- per loan account
f.
LOD b. Rs 1,000/- per loan account
b. Original document retrieval charges
Request for Copies of any collateral held
g. Rs 750/- per instance
with ABHFL
Duplicate Statement/ Repayment Schedule
h. / any other document held with ABHFL Rs 200/- per loan account
request
i. Charge For Exchanging ECS mandate Rs 750/- per instance

ABHFL/VER9/JUL/2022
 CIBIL report retrieval fee Rs 50/- per instance for Consumer and Rs. 500/- for
j.
Commercial CIBIL
Loan Re-schedulement (at discretion of
k. 0.50% on principal outstanding amount
ABHFL) charges
l. NOC issuance charges Rs 500
Revision of Fixed rate to floating and vice-
m. versa/ revision in loan interest rate/ tenure 2% of the loan outstanding
at discretion of ABHFL
▪ Stamp Duty
▪ Legal and other statutory charges As per actual, where applicable
n.
▪ Insurance Premium
▪ Creation charge with ROC
3. Security for the loan
Mortgage for the loan (detail of
a. property to be mortgaged as security
for the loan)
Guarantee
b.
(name of Guarantors)
Other Security
c.
(Details of other securities, if any)
4. Insurance of the Property / Borrowers
Detail of requirements and features of the
insurance policy to be obtained for the As per Sanction Letter and Loan Agreement.
property/borrowers
5. Conditions for Disbursement of the loan
Conditions for disbursement of the loan or
any installment thereof viz., creation of
As per Sanction Letter and Loan Agreement
security, submission of approved plans,
stages of construction, statutory approvals
6. Repayment of the loan & interest
a. Amount of EMI as per sanctioned amount
b. Total number of installments (EMI)
As specified in Sanction Letter and Loan Agreement.
c. Due Date for payment of PRE EMI
d. EMI Due date
Procedure for advance ▪ Mail/letters shall be sent to the customers mailing address
e. intimation of the changes in rate of intimating change in rate of interest / EMI.
interest/ EMI ▪ ARR shall also be updated on ABHFL website.
Brief procedure to be followed for
7. Refer to Annexure “A”
Recovery of overdues
8. Customer Service
9.30 a.m. to 6.00 p.m. Monday to Friday (except on Public
a. Visiting Hours at office
Holiday)
Details of person to be contacted for Officer In charge of the concerned Area Office / Business
b.
customer service Centre / Head Customer Service.
c. Procedure to obtain the following including time line therefore:
i. Loan account statement Within 3 working days after customer’s request.
ii. Photocopy of the title documents Within 30 days from the date of written request along with
requisite fees.
iii. Return of original documents on Within 30 days from the date of receipt of request letter from
closure/transfer of the loan the Borrower subject to clearance of fund.
9. Grievance Redressal Part of Fair Practice Code. ( Annexure “B”)

ABHFL/VER9/JUL/2022
Annexure “A”:

Brief procedure to be followed for Recovery of over dues

1. If one or more of the Events of Defaults shall have occurred, then, the Lender, by a written notice to the Borrower may
declare the principal and all accrued interest and charges on the Loan which may be payable by the Borrower under or
in terms of the Agreement and/or any other agreements, documents subsisting between the Borrower and the Lender,
as well as all other charges and dues to be due and upon such declaration the same shall become due and payable
forthwith and the security in relation to the Loan and any other loans shall become enforceable, notwithstanding
anything to the contrary in the Agreement or any other agreement/s or documents. On occurrence of any of event of
default, the Lender shall have right to recall the entire outstanding loan amount with all other charges and interest and
the Borrower, Co-borrower, Guarantor will be liable to forthwith repay such loan amount without any demur or protest.
2. If any Event of Default or any event, which, after the notice or lapse of time or both, would constitute an Event of
Default shall have happened, the Borrower shall forthwith give to the Lender notice thereof in writing specifying
such Event of Default, or such event.
3. In the Event of Default, the Lender shall be entitled to communicate, in manner it may deem fit, to or with any person
or persons with a view to receiving assistance of such person or persons in recovering the defaulted amounts including
but not limited to visiting the Property and/or place of work of the Borrower.
4. The lender will be entitled to exercise all its rights as specified in the loan agreement and other related documents
executed between the Borrower and the Lender.
The recovery process of enforcement of mortgage/securities, including but not limited to, taking possession and sale
of the mortgaged property in accordance with the procedure prescribed under the Securitization and Reconstruction
of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) or under any other law, is followed
purely under the directions laid down under the respective law. Intimations / Reminders/ Notices(s) are given to
customer/s prior to initiating appropriate legal steps for recovery of overdues, by the various legal tools like Negotiable
Instruments Act, Civil Suit, SARFAESI Act etc.

Annexure “B”:
4.6 Grievance Redressal Mechanism
In the present competitive scenario, excellent customer service is an important tool for sustained business growth.
Customer complaints are part of the business life in any corporate entity.

At ABHFL, customer service and satisfaction are our prime focus. We believe that providing prompt and efficient
service is essential not only to attract new customers, but also to retain existing ones. ABHFL has come up with a lot
of initiatives that are oriented towards providing a better customer experience and an efficient complaints redressal
mechanism with a view to providing enhanced experience to our customers.

In order to make ABHFL’s redressal mechanism more meaningful and effective, a structured system has been built.
This system would ensure that the redressal sought is just and fair and is within the given frame- work of rules and
regulation.

4.6.1 Machinery to handle customer complaints/ grievances

Customers who wish to provide feedback or send in their complaint if they are not satisfied with the services provided
or may want to report any improper misconduct by ABHFL or its representative such as DSA/ RP /Collection agents
etc. may use the following channels between 9:00 am and 9:00 pm, Monday to Sunday.

• Call our Customer Service Helpline on 1800-270-7000

ABHFL/VER9/JUL/2022
 • Email us at care.housingfinance@adityabirlacapital.com
• Write to us at the below mentioned address:
Aditya Birla Housing Finance Limited – Customer Service Cell
R Tech Park, 10th Floor, Nirlon Complex, Off Western Express Highway,
Goregaon East, Mumbai- 400 063

In case the complaint is not resolved within the given time or if he/she is not satisfied with the solution provided by
ABHFL, the customer can approach the Complaints Redressal Officer. The name and contact of the Complaint Redressal
Officer is as follows:
Mr. Abhinav Chaudhry
Tel. No.: +91-22-62761487
Email Id: abhinav.c@adityabirlacapital.com

In case the response received through the above channels are not satisfactory, they can write to the Head of our
Complaint Redressal Cell at: grievance.housingfinance@adityabirlacapital.com

We assure a response to letters / emails received through this channel within 5 working days.
If the complaint/dispute is not redressed within a period of one month, the customer may appeal to the supervisory
authority of Housing Finance companies – the National Housing Bank in offline mode by post or online mode on NHB
website, in prescribed format available at below link, at the address given below:
https://grids.nhbonline.org.in/(S(0cixd2l420ampmiuolt4fxz2))/default.aspx

National Housing Bank

Complaint Redressal Cell
Department of Supervision
National Housing Bank, 4th Floor, Core-5A, India Habitat Centre, Lodhi Road,
New Delhi - 110 003.
Website:www.nhb.org.in (Under the head of Grievance Redressal System there is an option to lodge the
compliant in Physical mode and Online mode(GRIDS))/
https://grids.nhbonline.org.in

4.6.2 Disclosure

ABHFL is authorized to disclose from time to time any information relating to the loan to any credit bureau (Existing
or Future) approved by Government of India or any authority as may require from time to time without any notice to
the applicant. ABHFL is also authorized to make inquiries with the Credit Information Bureau of India (CIBIL) and get
the applicants Credit Information Report. The most Important Terms and Conditions mentioned above are an indicative
list of terms and conditions of our loan products. These terms and conditions are further described in our loan
agreement under relevant sections/schedules and therefore should be read in conjunction with those mentioned in the
loan agreement and/or sanction letter.
It is hereby agreed that for detail terms and conditions of the Loan, the parties hereto shall refer to and rely upon the
loan and other security documents executed / to be executed.
The above terms and conditions have been read by the borrower/s / read over to the borrower/s by Shri / Smt. / Km
_______________________ (by our official) of the Company and have been understood by the borrower/s.

___________________________________________ ________________________________________
(Signature or thumb impression of the Borrower/s) (Signature of the authorized person of ABHFL)

Date: Place:

ABHFL/VER9/JUL/2022